Ever since i got the truck ive noticed that the motor has to turn over a few seconds before it fires up for the first time, after letting the truck sit for a while the fuel psi gauges goes down to zero, and when trying to start it, it seems as if its loosing prime at the pump, after a few seconds of turning over the motor fires right up and im getting a big white cloud of smoke it dont bother me but was wondering if its doing any damage to my vp

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When the gauge goes to zero, is the truck running or not? If it is not, that is normal. There is a hole in the return valve that will allow fuel to escape. If it happens when it's running, there is fuel leaking back to the tank. You could try bumping the starter to let the lift pump run for a while, priming the system, and trying to start.